Austria International Oil and Gas Industry News

New Board Member at OMV

Supervisory Board of OMV: Manfred Leitner appointed to the OMV Executive Board with effect from April 1, 2011.

December 14, 2010

OMV: Nabucco Underway as Planned

Austrian OMV considers that the gas pipeline project of European energy companies is developing according to plans.

December 10, 2010

OMV: Operating Result of Over € 2.0bn Expected

The CEO of the Austrian oil group, Wolfgang Ruttenstorfer says: "2010 was a good year for OMV”.

December 10, 2010

Romania Sells Stake in Petrom

The state share in the Romanian Petrom, a subsidiary of the Austrian OMV, is to be reduced. OMV is interested.

December 7, 2010

OMV CEO: Insider-process on January27

While the trial date for the CEO of OMV has already been set, many leading personalities express their trust in an open letter.

December 2, 2010

Renewable Energy: Great Potential, but Halted by Politicians

The Umweltdachverband (UWD, Environmental Federation) criticizes sharply the energy policy of the Austrian Government. Investments are made mainly in obsolete technologies

November 29, 2010

OMV Supervisory Board: Confirmation of Ruttenstorfer as CEO

Being accused to insider trading, the other members of the board as well as the supervisory board demonstrated to have confidence in CEO Dr. Wolfgang Ruttenstorfer.

November 25, 2010

OMV's Supervisory Board Supports CEO Ruttenstorfer

The allegations of insider trading made by the Financial Market Authority are uncomprehensible, says member of the supervisory board Norbert Zimmermann.

November 23, 2010

OMV Plans to Expand Further in Turkey

The Austrian oil and gas group is still assessing the best form of financing Petrol Ofisi. Further projects in Turkey are being evaluated.

November 22, 2010

OMV Sells 56 Gas Stations to PKN Orlen

56 gas stations in the German states of Thuringia and Saxony go to a subsidiary of the Polish oil group PKN Orlen.

November 19, 2010

Little Progress for Southstream

The Russian energy group Gazprom has difficulties with the Southstream pipeline project. The optimal path has to be found first.

November 18, 2010

Suspicion of Insider trading: Ruttenstorfer receives support

After the Vienna Public Prosecution's charges against OMV's CEO Ruttenstorfer, the latter now receives support. It is being said that he has merely been "clumsy".

November 18, 2010

OMV Announces Results of January – September 2010

Austria´s biggest company posts a strong operating performance compared to previous year.

November 10, 2010

Nabucco: First Deliveries Before Year-End

While sharp criticism of the pipeline project is heard again from Moscow, there is optimism at Nabucco.

November 9, 2010

Energy Prices Rise Steeply

An increase of 6.7% was recorded for energy prices in the yearly comparison. The relevance of alternative energy sources will increase significantly in future, as energy price increases are expected to continue in the long term.

November 2, 2010

OMV: Republic of Austria Will Hold On to Its Stake

An informal consultation is said to have been held between the governing parties to keep the government stake in OMV, should there be a capital increase.

October 27, 2010

Financing of OMV-Deal in Turkey Still Open

OMV leaves the financial markets still in the dark as to how it will cope with the acquisition.

October 25, 2010

Large Power Plant in Turkey: Verbund concludes Joint Venture

With an investment volume of 550 million euro, the Verbund operates together with its Turkish partner Sabanci Holding, a gas-steam power plant.

October 25, 2010

New Budget, New Taxes

The budget includes a new austerity package, which consists essentially of taxes on mineral oil, tobacco and banks.

October 25, 2010

OMV: Complete Takeover of Petrol Ofisi Fixed

The deal is finished. Turkey will be the third main market for the OMV group.

October 22, 2010

OMV Deal: Many Questions Without Answer

Not only the extent of the takeover is unknown, but also how it will be financed.

October 22, 2010

Increase in Mineral Oil Tax likely

Economy Minister Mitterlehner speaks of a possible moderate increase.

October 21, 2010

OMV Plans Complete Takeover of Petrol Ofisi

OMV and Doğan Holding are in detailed negotiations regarding an acquisition of Dogan Holding’s stake in Petrol Ofisi by OMV

October 20, 2010

Low-Cost Gas Stations on Unused ÖBB Property

The Austrian Federal Railways (ÖBB) have signed a framework contract with Markus Friesacher for up to 35 low-cost gas stations on dormant property.

October 19, 2010

EVN's Subsidiary RAG Increased Gas Capacities

New capacities are created, gas and oil exploration in Poland and Hungary to be intensified

October 17, 2010

Mineral Oil Tax: A Cash Cow for the Finance Minister

State revenues for the mineral oil tax have risen steadily since 2000. At that time, motorists paid 2.726 billion euro; this year it will be 3.9 billion euro.

October 15, 2010

ADEG Opens First Petrol Station

ADEG, a wholly-owned subsidiary of REWE AG, now expands its business by starting to provide the Styrian petrol stations.

October 14, 2010

Coface CEE Top 500 - Poland Largest Number of Companies in CEE

Poland has the largest number of companies in the Central and Eastern Europe Top 500 with 28.4%. Hungary ranks second with 16.6%, overtaking the Czech Republic, which is home for 13.8% of the CEE Top 500.

October 12, 2010

Postponed: Decision on Nabucco Not Before 2011

Because the talks with the main supplying country Azerbaijan are proceeding with exceeding slowness, the decision about the construction of the pipeline will not be possible this year.

October 8, 2010

OMV: Gas Reservoir Found in Southern Tunisia

OMV has been successful again in southern Tunisia. "The two additional findings are of economic and strategic importance and round off the success of the present OMV-drilling campaign, with a total of nine strikes in a row."

October 4, 2010

Energieallianz Austria Creates Subsidiary in Germany

Renewable energies are a rising trend. This has been recognized by the domestic Energieallianz Austria(EAA), a subsidiary of the energy provider for Vienna, Lower Austria and Burgenland.

September 30, 2010

Vienna now has its own Expat Center

In Vienna, the first Expat Center in Austria was opened. The project was handled by the Vienna Business Agency (former WWFF).

September 30, 2010

Martin Schlaff: Acquisition of Several Latvian Oil Transport Companies Planned

After four years of delay Schlaff is reported to be planning the takeover of several Latvian transport companies.

September 20, 2010

Austria's Management and Supervisory Boards’ Salaries on the Test Bench

The partly state-run OMV had the most expensive board of all Austrian corporations in 2009. In total, the oil company spent 10.2 million euro on its bosses, 23.4% more than the previous year.

September 20, 2010

ÖIAG: ÖVP vs. SPÖ

Schieder and Rudas demand dissolution of the state holding ÖIAG, Finance Minister Pröll, on the other hand, wants to “strengthen” it.

September 17, 2010

Liquefied Natural Gas: Plans for a Route from Georgia to Romania

Liquefied natural gas (LNG) is to be shipped from the Georgian port of Kulevi in the direction of Constanta.

September 17, 2010

Hypo Alpe Adria: Greek Entrepreneur Xeniadis Signals his Interest in Buying

The Greek businessman Vasileios Xeniadis is prepared to offer 1.35 billion euro for Hypo Alpe Adria.

September 16, 2010

OMV targets a 20% market share in Serbia

Important changes are foreseen for 2011 in the Serbian oil industry. Because, effective from January 1, the energy company NIS will lose, albeit theoretically, its artificially upheld monopoly position…

September 13, 2010

Putin: Gas pipeline Nabucco with "little chance of success"

Putin gives the competition project of the South Stream gas pipeline little chance of being realized, because as of now, Nabucco has no suppliers.

September 8, 2010

OMV to cover 9 percent of Romanian energy demand

The gas-fuelled power plant Brazi in Romania of Austrian energy group OMV is going to be ready by autumn 2011 and will then produce enough energy to cover 9 percent of the Romanian energy demand.

August 30, 2010

OMV boss with possible prosecution

OMV CEO Wolfgang Ruttenstorfer maybe confronted with prosecution in the current proceedings against him as reported by Presse.

August 20, 2010

C.A.T. Oil AG wins two hydraulic fracturing tenders in Western Siberia

C.A.T. oil AG, one of the leading providers of oil and gas field services in Russia and Kazakhstan, has been announced as the winner of two tenders for hydraulic fracturing services in Western Siberia.

July 5, 2010

C.A.T. Oil AG further improves profitability and earnings under abnormally harsh weather conditions

C.A.T. oil AG (O2C, ISIN: AT0000A00Y78), one of the leading providers of oil and gas field services in Russia and Kazakhstan, today has published its results for the first quarter 2010.

May 31, 2010

CEE oil & gas - MOL releases Q1 2010 financial results

The Hungarian-based MOL, one of the largest integrated oil and gas companies in Central and Eastern Europe, today posted its Q1 2010 unaudited financial results.

May 21, 2010

C.A.T. Oil AG - dividend announcement

The annual general meeting of shareholders of the company held on 18 June 2010, resolved to distribute dividends in the amount of €0.30 per eligible share for the fiscal year 2009.

May 18, 2010